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Fly News Breaks for February 5, 2020
CMG
Feb 5, 2020 | 08:42 EDT
Wells Fargo analyst Jon Tower raised his price target for Chipotle to $868 from $830 following quarterly results. The analyst does not see "many holes to punch" in the company's Q4 results or 2020 outlook and expects the stock to maintain its premium valuation versus peers, with Street numbers likely moving modestly higher and ahead of new product news, a ramped-up effort around loyalty conversion and potential expansion of delivery partners. Tower has an Equal Weight rating on the shares as he views the stock's risk/reward as balanced at current levels.
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